Airlines Raise Fares 5%
To Record-High Levels

Major airlines raised already record-high ticket prices by 5% nearly across-the-board, a sign of robust bookings for the fall and a strong economy.

Business travelers will bear the brunt of the hike, but even advance-purchase fares were quietly raised over the weekend. Southwest Airlines was the lone holdout, leaving its fares unchanged after the increases were posted in computerized reservation systems beginning late last week.